Ah, LG, darling, it seems your foray into the wild world of NFTs has come to a rather abrupt end. The Art Lab, your digital art marketplace, is gracefully bowing out, allowing collectors to rescue their precious tokens before the final curtain falls in June. How very considerate of you. 🎭
In a statement dripping with corporate poise, the South Korean electronics giant announced the “difficult decision” to shutter the platform, citing the ever-evolving NFT space. Launched in 2022, Art Lab will officially close its doors on June 17. To ease the transition, LG has outlined two methods for collectors and artists to transfer their assets. Because nothing says “we care” like a well-organized exit strategy. 😏
“The LG Art Lab Team will automatically transfer the assets currently in the marketplace to collectors’ wallets by April 30,” the company declared, adding that users can also manually move or withdraw their artworks. How generous! It’s almost as if they’re saying, “Here, take your digital doodles and go.”
“While this chapter is coming to an end, our passion for digital art and innovation remains strong, and we look forward to seeing how the NFT space continues to grow and evolve.”
Art Lab
Seeking new opportunities
While LG remained coy about the specifics of Art Lab’s demise, they did hint at shifting priorities, stating, “It is the right time to shift our focus and explore new opportunities.” Translation: “We’re off to chase the next shiny thing.” 🏃♂️💨
We are live on Ethereum!⛓️
Discover, collect, and display digital masterpieces right from your LG Smart TV
First up: @Amadon
His work now available on LG Art Lab
— LG Art Lab (@LGArtLab) August 20, 2024
Originally available on the Hedera network, Art Lab later migrated to Ethereum, though it’s unclear how much that move boosted adoption. LG has promised customer support for Art Lab users until July 18. How thoughtful—like a concierge handing you a mint as you’re shown the door. 🍬
This move follows LG’s broader dalliance with digital innovation. In 2023, the company partnered with metaverse firms Oorbit and Pixelynx to bring virtual experiences to its smart TVs. Oorbit’s technology was hailed as “the thread that binds virtual worlds together,” allowing users to access AI-generated games and virtual concerts. Whether LG’s metaverse ambitions will survive Art Lab’s closure remains to be seen. But hey, at least they tried, right? 🤷♂️
Read More
- Cookie Run Kingdom Town Square Vault password
- Cookie Run Kingdom: Shadow Milk Cookie Toppings and Beascuits guide
- Kingdom Come Deliverance 2: Lion’s Crest DLC Quest Guide
- NEAR Protocol Launches New Governance Proposal
- Maiden Academy tier list
- Pi Network’s Grand Migration: 10 Million and Counting!
- Bill Maher Flattens Left’s Land Acknowledgment Farce
- Meet the 73-Year-Old Mastermind of a $2.4M Crypto Caper! 💸
- 5 Romantic Horror Movies to Watch This Valentine’s Day
- Kaveri Kapur’s Debut Song: Priyanka Chopra’s Heartfelt Praise for AR Rahman Collaboration!
2025-03-20 18:57